PolyOne Co. (POL) Rating Lowered to Hold at Zacks Investment Research

PolyOne Co. (POL) Rating Lowered to Hold at Zacks Investment Research

PolyOne Co. (NYSE:POL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

According to Zacks, “PolyOne Corporation is an international polymer services company with operations in thermoplastic compounds, specialty resins, specialty polymer formulations, engineered films, color and additive systems, elastomer compounding and thermoplastic resin distribution. PolyOne was formed from the consolidation of the former M.A. Hanna Company and The Geon Company. Information on the Company’s products and services can be found at www.polyone.com. “

A number of other research analysts also recently weighed in on the stock. Jefferies Group LLC raised shares of PolyOne to a “hold” rating and set a $38.00 target price for the company in a research report on Thursday, March 2nd. TheStreet raised shares of PolyOne from a “c+” rating to a “b-” rating in a research report on Monday, April 24th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $38.75.

PolyOne (POL) opened at 38.40 on Thursday. The company’s 50-day moving average price is $37.70 and its 200-day moving average price is $34.50. PolyOne has a 12-month low of $28.77 and a 12-month high of $40.88. The company has a market cap of $3.14 billion, a PE ratio of 18.65 and a beta of 1.60.

PolyOne (NYSE:POL) last issued its quarterly earnings data on Thursday, April 27th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.06. PolyOne had a net margin of 4.95% and a return on equity of 24.77%. The business had revenue of $899 million during the quarter, compared to the consensus estimate of $860.52 million. During the same period in the prior year, the firm posted $0.56 EPS. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities analysts anticipate that PolyOne will post $2.31 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 7th. Stockholders of record on Friday, June 16th will be given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Wednesday, June 14th. PolyOne’s dividend payout ratio is currently 27.69%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in POL. Public Employees Retirement System of Ohio increased its position in PolyOne by 3.0% in the first quarter. Public Employees Retirement System of Ohio now owns 11,292 shares of the specialty chemicals company’s stock worth $385,000 after buying an additional 334 shares in the last quarter. Paloma Partners Management Co increased its position in PolyOne by 553.7% in the first quarter. Paloma Partners Management Co now owns 47,056 shares of the specialty chemicals company’s stock worth $1,604,000 after buying an additional 39,858 shares in the last quarter. AQR Capital Management LLC increased its position in PolyOne by 9.8% in the first quarter. AQR Capital Management LLC now owns 370,385 shares of the specialty chemicals company’s stock worth $12,627,000 after buying an additional 32,948 shares in the last quarter. Gotham Asset Management LLC bought a new position in PolyOne during the first quarter worth $683,000. Finally, State Street Corp increased its position in PolyOne by 4.0% in the first quarter. State Street Corp now owns 2,692,208 shares of the specialty chemicals company’s stock worth $91,775,000 after buying an additional 102,797 shares in the last quarter. 93.51% of the stock is owned by hedge funds and other institutional investors.

PolyOne Company Profile

PolyOne Corporation (PolyOne) provides specialized polymer materials, services and solutions. Its segments include Color, Additives and Inks; Specialty Engineered Materials; Designed Structures and Solutions; Performance Products and Solutions, and PolyOne Distribution. The Color, Additives and Inks segment provides custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “POL”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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